Business

What goes into the making of a successful Start Up Founder?

One of the most striking phenomenon to hit the shores in recent times has been the ‘Start Up’ or self made businesses. The impact has set off ripples in every direction that it has now become a childhood ambition of the lot, born in the current generation. Is this the way to go, considering that a decent amount of startups have in fact become great success stories? Or has the path become so dense that it asks for a very measured and calculated approach to succeed? These are a few questions that this article aims to answer.

Being a Start Up founder is a competitive task in itself. Apart from the pressure of growing the enterprise into an industry transforming company, the responsibility of handling a job that has previously never been managed, is a lot for someone who’s just taking baby steps in the field of self-ventures.

The Seven Important Roles That Every Start Up Founder Must Learn To Play

⇒ The ‘Leader’

The most important role and responsibility of any startup founder is the ability to lead the pack. Instinctive decision making along with complete confidence in his or her idea, are a few of the basic qualities that the individual must possess. As Scott Belsky, founder of Behance rightly says, “Being the founder is not about the ideas, but it’s about making it happen.”

⇒ The Communicator

Shuttling between implementing the ideas and raising the money required is a difficult task in itself. Henceforth, it is important that any founder needs to communicate efficiently between his team and the investors, so that unnecessary obstacles are avoided along the way to establish the company.

⇒ Financial Expert

More than anything else, it is important to realize that this is a business venture and everybody around you, including the team and investors are continually looking for a monetary turnover at every point of time.

⇒ Ability to sell the Product

“What do you need to start a business? Three simple things: know your product better than anyone, know your customer, and have a burning desire to succeed,” says Dave Thomas, Founder, Wendy’s fame.

⇒ Making Sustainable Plans For The Company’s Future

“I skate to where the puck is going to be, not where it has been,” says Wayne Gretzy, CEO of Hockey Star. A start up founder must therefore have the vision and determination to set high goals for the company in the near future. From making territory expansion plans to tactical changes in the principles, everything has to be decided beforehand so that the company’s growth curve never dips.

⇒ Employee Appreciation

The product is the crown, while all the employees making it are the crafters of the magnificent result. As Time Westergen, founder of Pandora rightly puts it, “Make your team feel respected, empowered and genuinely excited about the company’s mission.”

⇒ The Feedback Counter

It is undoubtedly the startup founder, by whose name the product reaches at the customer’s doorstep. Hence he/she should be open to any criticisms and feedback on the product and services offered by the company and make sure that the grievances are rightfully managed and appropriate measures be taken to communicate efficiently with the customers. The finest of all advices by Bill Gates, resonates the same idea, “Your most unhappy customers are your greatest source of learning.”

Finally, what is really important is the passion and the will to fight it out, no matter what the circumstances are. Beyond everything, it is also very necessary for the founder to enjoy every process of developing the company. After all, not everybody gets to wake up as the CEO of a company and live a life of surprises and challenges!

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